UBS Stays Neutral on Apple Despite Foldable iPhone Launch
UBS maintained its Neutral rating for Apple Inc., citing the recent foldable iPhone launch. The Duo, priced starting at $1,999, represents a form factor change in the iPhone lineup.
The analyst firm noted that while prices increased for the Pro and Pro Max models by $100, they do not fully offset higher memory costs. However, UBS believes a larger price increase would have weighed on iPhone demand, aligning with broader analyst sentiment.
InvestingPro analysis suggests Apple appears overvalued based on its Fair Value assessment, with a P/E ratio of 36.25. The stock currently trades at $319.60, above the UBS target of $296.00.